In a recent transaction, Emily T. Epstein, the General Counsel of Vivid Seats Inc. (NASDAQ:SEAT), sold a portion of her company stock, generating over $7,600 in proceeds. The sale occurred on May 13, 2024, with 1,381 shares of Class A Common Stock being sold at a price of $5.55 per share. This transaction was part of a "sell to cover" provision related to the vesting and settlement of Restricted Stock Units (RSUs) to satisfy tax withholding obligations.
The sale happened at a weighted average price of $5.55, consistent across multiple transactions. Epstein has committed to providing full information regarding the number of shares sold at each separate price upon request from the SEC, the issuer, or any security holder of the issuer.
Prior to the sale, Epstein acquired 4,309 shares through the vesting of RSUs, which represent a contingent right to receive shares of Vivid Seats Inc.'s Class A common stock. The acquired shares did not impact Epstein's holdings financially as the transaction price per share was $0. The RSUs vested and settled in part on November 12, 2023, with the remaining units set to vest in equal quarterly installments until fully vested on November 12, 2025. These units do not have an expiration date.
Additionally, Epstein was awarded 235,000 RSUs on May 9, 2024. These units will vest in thirds, with the first third settling on May 12, 2025, and the final portion fully vesting on May 12, 2027.
Following the sale, Epstein's direct ownership in Vivid Seats Inc. stands at 34,243 shares of Class A Common Stock. The transactions reflect changes in Epstein's holdings and are routinely disclosed as per SEC regulations for officers of publicly traded companies.
InvestingPro Insights
As Vivid Seats Inc. (NASDAQ:SEAT) navigates the market, recent data from InvestingPro provides a snapshot of the company's financial health and market performance. With a market capitalization of $1.13 billion and a Price/Earnings (P/E) ratio of 8.56, Vivid Seats appears to be valued favorably in terms of earnings. Notably, the company's P/E ratio has adjusted to 10.12 over the last twelve months as of Q1 2024, reflecting a more current valuation.
The company's Price/Book ratio stands at 8.09 as of the same period, which suggests a premium valuation compared to the book value of its assets. This is in line with one of the InvestingPro Tips, which indicates that Vivid Seats is trading at a high Price/Book multiple. Meanwhile, revenue growth has been robust, with an increase of 17.78% over the last twelve months as of Q1 2024. The company has also shown a quarterly revenue growth of 18.5% in Q1 2024, signaling a positive trend in its top-line performance.
Despite the company's growth, another InvestingPro Tip highlights that Vivid Seats is trading near its 52-week low, which could present a potential opportunity for investors looking for entry points. Additionally, analysts predict the company will be profitable this year, and it has been profitable over the last twelve months. It's worth noting, however, that Vivid Seats does not pay a dividend to shareholders, which may influence investment decisions for those seeking income-generating stocks.
For investors seeking a deeper analysis, there are additional InvestingPro Tips available for Vivid Seats at https://www.investing.com/pro/SEAT. Interested readers can use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking further insights that could inform their investment strategy.
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